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The Minister of Finance of great Britain Rishi Sunak announced a plan for 30 billion pounds ($37 billion) to rescue the country’s economy. It includes a tax reduction for house purchase, discounts on restaurants for all citizens, as well as a cash bonus for employers who won’t fire their employees, according to Bloomberg.
The programme for the preservation of jobs, which subsidizes the salaries of 9.3 million people, will be discontinued in October. However, enterprises will receive a bonus of £ 1,000 (1259 dollars) for each employee who will keep his place until January, receiving not less than 520 pounds (654 dollars) per month.
Writes CNBC, economists warned that the cessation of payments will cause a crisis in the labour market. However, Sunak noted that the program funding holidays “cannot and should not continue forever”, describing calls for further payments under this scheme irresponsible.
He also stated that all citizens would provide a 50 percent discount on trips to the restaurant from Monday to Wednesday until August to restore the scope of supply. VAT for the hospitality and tourism sectors will be reduced from 20 to 5 percent until January that will cost the country 4 billion pounds.
The state has already sent more than 160 billion pounds on rescuing the economy. The fall of the country’s GDP in April to 20.4 percent was the biggest in history. Meanwhile, in the period from April to may consumer credit rose to 103.7 billionaire pounds, the national debt exceeded GDP for the first time since 1963. According to forecasts of the Bank of England, GDP will shrink 14 percent this year,
Video, photo All from Russia.